On the second day of the Indonesia Blockchain Week 2020, some experts talk about the „Peer to Peer“ lending of cryptosystems. Several personalities and experts from the crypt world participated in this panel, including Justin Sun, CEO of TRON.
Financial loans with cryptomoney: a remarkable evolution?
Decentralized financial loans allow users to lend their crypto assets in exchange for interest returns. The nature of cryptographic assets allows anyone to lend their assets on different platforms at minimal cost.
Then, with the intelligent contracts, Blockchain now allows to follow pre-established parameters to issue, monitor and service loans. These have variable interest rates that are automatically adjusted in relation to the supply and demand of any given asset.
To further explore this idea, Tokocrypto invited the founders of several cryptomoney lending platforms to share their views.
In addition, the main objective was to share how people can use these platforms to maximize the profits of their cryptosystems with passive income.
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Experts talk about the development of P2P loans with crypto currencies
This session was attended by Justin Sun (Tron), Wei Zhou (Binance), John Izaguirre (Ontology), Stani Kulechov (Aave CEO), Brian Condenanza (Bidao), David Truong (Aave) and Vishakh (Cryptonomic). This panel was moderated by Wei Zhou.
The first to give his opinion was Izaguirre. He said that it is interesting how the Bitcoin Future ecosystem has been developing in the last year. For him, the economy with cryptomoney loans is „the most intelligent way to improve the (cryptographic) ecosystem itself“.
He also commented that for him with proper adoption this could penetrate the financial ecosystem in a much more mature way. As for his expectations, he said that for him this system will only continue to expand, with more players and more tools.
Similarly, Brian Condenanza of Bidao, said that for him „it is important to give people the opportunity to make more money and have a passive income with better returns than in the banks. He called the P2P crypto loan a „great opportunity for people“ in the short term. „Although there is a lot of speculation in terms of the price of cryptosystems, a lot of cryptosystems lending comes from traders,“ he said.
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Speaking about Ontology’s efforts, Izaguirre noted that: „We recently launched our dashboard where users can see where their cryptoactives are, regardless of their wallet or the Exchange they used to acquire them.
He added that this way they can see their entire investment portfolio, manipulate it, play with it and get scores for it. „You get a financial score based on your profits and losses. This is important because it gets you out of a ‚blockchain bubble‘ or a ‚B2B loan bubble‘ and brings the practicality of the traditional asset market,“ he said.
Next to speak was Stani Kulechov of Aave. According to him, the lending system is basic to any existing financial market. In the case of traditional markets, he commented that they are built by layers upon which new things emerge, but that in the case of loans with cryptomoney this was not always the case.
„When we started there was no such thing as a loan facility or stablecoin, and even the collateral that was there was illiquid,“ he said. However, he noted that this is why